string(13) "markets-macro"

Macro

November 3, 2023

The coming bamboom

Beijing wants to replace plastics with bamboo. On Thursday, the macro planner (NDRC), industry ministry (MIIT), finance ministry (MoF), and forestry administration (NFGA) released a three-year plan to systematically replace plastics with bamboo. “Systematic” is the key word here. The plan covers t… Username Password Remember Me Forgot Password

"Systematic" is the key word here.

The plan covers t...

sources

NDRC: 国家发展改革委等部门关于印发《加快“以竹代塑”发展三年行动计划》的通知

November 3, 2023

New minister of civil affairs appointed

Lu Zhiyuan, 59, has replaced Tang Dengjie as Party Secretary of the Ministry of Civil Affairs (MCA). He is also set to become MCA minister. ICYDK: The MCA is responsible for a raft of social assistance and welfare functions, like elderly and child care, disaster relief, medical a…

Lu Zhiyuan, 59, has replaced Tang Dengjie as Party Secretary of the Ministry of Civil Affairs (MCA).

He is also set to become MCA minister.

ICYDK: The MCA is responsible for a raft of social assistance and welfare functions, like elderly and child care, disaster relief, medical a...

sources

MCA: 陆治原，民政部党组书记

Source:

November 3, 2023

A (bank) capital idea!

Regulators are reducing banks’ capital adequacy burdens, with China’s biggest banks benefiting the most. On Wednesday, the financial regulator (NFRA) published revised rules governing banks’ capital holdings. We wrote about them in February, when they were circulated for comment. The rules tak…

Regulators are reducing banks' capital adequacy burdens, with China’s biggest banks benefiting the most.
On Wednesday, the financial regulator (NFRA) published revised rules governing banks’ capital holdings.

We wrote about them in February, when they were circulated for comment.
The rules tak...

sources

NFRA: 国家金融监督管理总局发布《商业银行资本管理办法》

Bloomberg: China’s New Bank Risk-Weights to Free Up Capital, Analysts Say

November 3, 2023

Everyone gets coal for Christmas

China has too much coal. And the winter coal demand spike won’t clear the backlog. The latest: On Wednesday, the China Coal Transport and Distribution Association (CCTD) said traders are scurrying to sell coal out of packed ports. Central government pressure has driven record domestic production …

China has too much coal.

And the winter coal demand spike won't clear the backlog.

The latest: On Wednesday, the China Coal Transport and Distribution Association (CCTD) said traders are scurrying to sell coal out of packed ports.

Central government pressure has driven record domestic production ...

sources

Bloomberg: China is Awash With Coal as Import Surge Adds to Mining Boom

November 3, 2023

NDRC cottons on to overuse of reserves

The macro planner (NDRC) wants to rein in the misuse of local cotton reserves. The latest: On Tuesday, the NDRC called for comments on draft revisions to the Management Measures for Central Cotton Reserves. ICYDK: Cotton is one of many commodities stockpiled by the central strategic reserve system. …

The macro planner (NDRC) wants to rein in the misuse of local cotton reserves.
The latest: On Tuesday, the NDRC called for comments on draft revisions to the Management Measures for Central Cotton Reserves.
ICYDK: Cotton is one of many commodities stockpiled by the central strategic reserve system. ...

sources

NDRC: 关于公开征求对《中央储备棉管理办法》（征求意见稿）意见的公告

Source:

November 3, 2023

Show the Party the money

The Party is tightening its grip over the financial sector. On Thursday, the central bank (PBoC) and the forex regulator (SAFE) published a joint readout of internal discussions centered around “studying the spirit” of the recently concluded Central Financial Work Conference (CFWC). On Wednesday, t…

The Party is tightening its grip over the financial sector.
On Thursday, the central bank (PBoC) and the forex regulator (SAFE) published a joint readout of internal discussions centered around “studying the spirit” of the recently concluded Central Financial Work Conference (CFWC).

On Wednesday, t...

sources

PBoC: 中国人民银行党委国家外汇局党组召开扩大会议传达学习中央金融工作会议精神

November 3, 2023

Quick take | Public health first, business interests second

Beijing is fixing its pandemic response procedures – but it may harm the business environment. Between October 20 and 24, the legislature (NPCSC) deliberated new draft revisions to China’s Law on the Prevention and Control of Infectious Diseases. The law was first passed in 1989. It underwent major…

Beijing is fixing its pandemic response procedures – but it may harm the business environment.
Between October 20 and 24, the legislature (NPCSC) deliberated new draft revisions to China’s Law on the Prevention and Control of Infectious Diseases.

The law was first passed in 1989.
It underwent major...

sources

NPC: 我国拟修法进一步完善传染病防治体制机制

NPC: 传染病防治法修订草案提请审议强化传染病防治中个人信息保护

NPC: 传染病防治法修订草案提请审议改进传染病预防监测预警报告制度

November 3, 2023

Flash talk | Infrastructure funding, local government debt restructuring, and the financial work conference

It’s been a big couple of weeks for China’s financial sector. Beijing held the Central Financial Work Conference, which happens roughly every five years, to plot the direction of financial sector reform. The central government said it would issue RMB 1 trillion worth of government bonds to fund dis…

It's been a big couple of weeks for China's financial sector.

Beijing held the Central Financial Work Conference, which happens roughly every five years, to plot the direction of financial sector reform.
The central government said it would issue RMB 1 trillion worth of government bonds to fund dis...

November 3, 2023

Science for Xinjiang

Beijing wants to put Xinjiang on the technological development map. On Tuesday, the State Council issued a plan for China’s 22nd free-trade zone (FTZ), located in Xinjiang. The zone, comprising three parts in Urumqi, Kashgar, and Khorgos, officially opened Wednesday. The new FTZ is focused on buil…

Beijing wants to put Xinjiang on the technological development map.
On Tuesday, the State Council issued a plan for China’s 22nd free-trade zone (FTZ), located in Xinjiang.

The zone, comprising three parts in Urumqi, Kashgar, and Khorgos, officially opened Wednesday.

The new FTZ is focused on buil...

sources

Gov.cn: 国务院关于印发《中国（新疆）自由贸易试验区总体方案》的通知

November 3, 2023

Beijing signs on to cooperate on AI risks

On Wednesday, China joined the UK and 26 other countries in signing on to the Bletchley Declaration, committing to international cooperation on AI risks. The declaration was signed during the AI Safety Summit, held at Bletchley Park from November 1-2. Recap: China’s delegation was led by Vice Mi…

On Wednesday, China joined the UK and 26 other countries in signing on to the Bletchley Declaration, committing to international cooperation on AI risks.

The declaration was signed during the AI Safety Summit, held at Bletchley Park from November 1-2.

Recap: China's delegation was led by Vice Mi...

sources

Gov.uk: The Bletchley Declaration by Countries Attending the AI Safety Summit, 1-2 November 2023

FT: US, China and 26 other nations agree to co-operate over AI development

November 3, 2023

Invited to the sidelines

On Thursday, the first-ever global AI Safety Summit – hosted by the UK – drew to a close. The summit was convened to discuss the risks and opportunities of AI, and generate some consensus on AI governance. The event was a who’s who of government and industry representatives from 27 countries: …

On Thursday, the first-ever global AI Safety Summit – hosted by the UK – drew to a close.

The summit was convened to discuss the risks and opportunities of AI, and generate some consensus on AI governance.

The event was a who's who of government and industry representatives from 27 countries:

...

sources

Ministry of Science and Technology: 中方派代表出席人工智能安全峰会

Bloomberg: UK Tries to Bring China to the Table at AI Summit

Bloomberg: UK Says Inappropriate for China to Attend All AI Summit Sessions

Bloomberg: US, China Agree to Work With UK to Protect Against AI Risks

Reuters: UK AI Safety Summit: who will attend and what’s on the agenda?

Global Times: Do not interpret China's participation in global AI safety summit narrowly: Global Times editorial

Politico: Liz Truss urges Rishi Sunak to ‘reconsider’ China’s AI summit invite

November 3, 2023

Xie xie for your service

China’s climate envoy, Xie Zhenhua, will retire in December after COP28. Reuters reported the news on Wednesday, citing a government source. ICYDK: Xie has been the face of China’s climate diplomacy for years. Most notably, Xie’s personal and professional relationship with US climate envoy John K…

China’s climate envoy, Xie Zhenhua, will retire in December after COP28.

Reuters reported the news on Wednesday, citing a government source.

ICYDK: Xie has been the face of China’s climate diplomacy for years.

Most notably, Xie’s personal and professional relationship with US climate envoy John K...

sources

Reuters: China’s veteran climate envoy Xie to step down in December - govt source

Bloomberg: China Eyes Successor For Veteran Climate Chief Who Befriended US

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